Portable Inverter Generator Market size is set to surpass USD 3.1 billion by 2028, as reported in the latest study by Global Market Insights Inc.
The portable inverter generator market growth is attributed to the growing intensity and severity of weather-related blackouts and escalating reliance on backup power solutions to sustain daily-life operations. The increasing demand for continuous power supply from residential & commercial establishments will stimulate product adoption. The rising implications of energy security & surging emission norms will further favor the industry scenario.
The COVID- 19 outbreak has led regulatory bodies and central governments to implement full-scale lockdowns, which delayed a wide array of commercial projects and outdoor activities. However, the rising demand for construction activities pertaining to the development of hospitals coupled with the surging work-from-home concept will positively sway product acceptance.
Easy maintenance & availability will drive the diesel market expansion
The diesel segment is anticipated to grow owing to its key features including easy maintenance, cost-effectiveness, and easy availability. These units can function in different environmental conditions, followed by an ability to handle large power loads and long-duration operations.
Browse key industry insights spread across 400 pages with 684 market data tables & 30 figures & charts from the report, “Portable Inverter Generator Market Size By Power Rating (1 kVA, 1 kVA – 2 kVA, > 2 kVA – 3 kVA, > 3 kVA – 4 kVA, > 4 kVA), By Power Source (Diesel, Gasoline), By Application (Residential, Outdoor Sports, Construction), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2022 – 2028”, in detail along with the table of contents:
Wide-scale utilization across the construction sector will boost the market progression
The construction application is projected to reach USD 382 million by 2028. Inverter gensets can be used in shops & retail outlets and construction sites to provide reliable power to various tools including air circulation fans, battery chargers, small compressors, electric concrete vibrators, circular saws, concrete drills, and multiple hand tools. These units are deployed to aid jobsite equipment, power communication systems, and provide lighting for uninterrupted operations, thus fostering the industry potential.
Portable gensets are majorly used during long power cuts to power a few basic appliances. Robust construction activities driven by elevated infrastructure spending have triggered the demand for these gensets. The sector is poised to grow on account of several ongoing projects across multiple applications and other commercial ventures across the domestic & international markets.
Increasing investments across the residential sector to propel the growth for APAC region
Asia Pacific portable inverter generator market is predicted to witness 9% growth rate through 2028. The proliferating construction and residential sectors have significantly corresponded to an increased demand for consistent power supply, which in turn, will augment the business landscape. Increasing reliance on electronics & electrical equipment and high-tech gadgets to sustain day-to-day operations across a multitude of end-user verticals will accelerate product deployment.
Eminent players operating in the market include Cummins, Inc., Briggs & Stratton, Kirloskar Oil Engines Limited, Kohler, Yamaha Motor Co., Generac Power Systems, Honda Motor Co., Atlas Copco, Caterpillar, Wacker Neuson SE, Honeywell International, Deere & Company, DuroMax Power Equipment, Champion Power Equipment, FIRMAN Power Equipment, WEN Products, Westinghouse Electric Corporation, A-iPower, HIMOINSA, and Mitsubishi Heavy Industries.